Down $1.17 on the day

The US crude oil futures are settling the day at $50.43 per barrel. This is down $117 or 2.27% and erases the gains (and then some) seen yesterday.

Looking at the hourly chart, the price moved back below the 100 and 200 hour MAs (both are at $50.58).

In other markets, the US debt market is mixed with the yields in the front end up and the longer end unchanged or down (2 year yield is up 2.4 BP, while 10 year yields are unchanged and 30 year yields are down 1 BP).

Spot gold is down about $3 or -0.22%

The US major stock indices are unchanged on the day.